Welcome to our dedicated page for Hormel Foods news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods stock.
Hormel Foods Corporation reports developments as a global branded food company with a portfolio spanning Planters, Skippy, SPAM, Hormel Natural Choice, Applegate, Wholly, Hormel Black Label, Columbus, Jennie-O and other food brands. Company updates commonly address quarterly earnings, dividends on common stock, product and menu innovation, foodservice offerings, retail launches, and portfolio actions across perishable and shelf-stable foods.
Recent corporate news also reflects Hormel's shift toward value-added proteins, including the completed sale of its whole-bird turkey business while retaining the Jennie-O brand and value-added turkey products. Other recurring themes include food safety and quality leadership, community programs tied to food security, and brand activity in categories such as pizza toppings, sauces, marinades, nut butters and packaged proteins.
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The makers of HORMEL® chili have introduced the first-ever HORMEL® Chili Cheese Brew, a unique beer inspired by the popular chili cheese dip. This collaboration with Modist Brewing Co. aims to enhance gameday snacks with a flavorful sip. Available starting January 24, 2023, the beer comes in four-packs priced at $24, including shipping, and is designed for fans to enjoy during the Big Game on February 12. The lager features Minnesota Pilsner barley malt and flaked corn, complemented by savory spices and cheddar cheese powder for a distinctive taste. For more information, visit www.HormelChiliCheeseBrew.com.
Hormel Foods Corporation, based in Austin, Minnesota, has launched a limited-edition merchandise collection in collaboration with Nom Life, featuring five apparel and accessory items. Available on SPAM.com, the collection includes items such as the $55 SPAM® Brand Concert Crewneck and $20 SPAM® Varieties Everyday Concert Tote. Notably, all proceeds will be donated to Convoy of Hope, aimed at aiding communities in need. This initiative aligns with Hormel's branding strategy, enhancing customer engagement while contributing to social causes. The merchandise reflects comfort and nostalgia tied to the SPAM® brand.
Hormel Foods Corporation (NYSE: HRL) announced its 2023 Annual Meeting of Stockholders will be held virtually on January 31, 2023, at 6 p.m. CST. Registered stockholders can access the meeting via this link. Participants must use a 16-digit control number to vote electronically. A question-and-answer session will follow the meeting, with questions submitted in advance through proxyvote.com. Gift boxes will be available for registered stockholders starting February 1, 2023, at the SPAM Museum.
Hormel Foods, based in Austin, Minnesota, is inviting recent college graduates to apply for a unique job opportunity as Peanutters, driving the iconic NUTmobile across the United States. This full-time, paid position runs from June 2023 to June 2024 and includes representing the PLANTERS brand at events and media appearances. Applicants must have a degree in communications, marketing, or a related field, and submissions are due by February 14, 2023. Hormel, known for its $12 billion annual revenue and diverse food brands, aims to continue the tradition of engaging with communities through this initiative.
Hormel Foods recently donated $25,000 across 10 local nonprofits in Austin, Minnesota, to support their organizational needs. This initiative highlights the company's commitment to community engagement. CEO Jim Snee emphasized the importance of recognizing the hard work of nonprofit staff, who often overlook their own funding challenges. The selected organizations included Mower County Health and Human Services, United Way Success Closet, and others, each receiving a $2,500 check. This gesture reinforces Hormel Foods' dedication to social responsibility and community support.
Hormel Foods Corporation (NYSE: HRL) has been recognized as a Category Captain by Progressive Grocer magazine for its outstanding performance in the grocery industry in 2022. The designation reflects Hormel's commitment to driving sales growth through innovative strategies and collaboration with retail partners. This partnership approach led to a 29% increase in sales for a Midwest grocery chain, generating an additional $1.3 million in revenue. Hormel achieved this amidst challenges like supply chain disruptions and rising inflation, showcasing its ability to leverage shopper insights for category growth.
Hormel Foods Corporation (NYSE: HRL) has acquired a 29% minority stake in PT Garudafood Putra Putri Jaya Tbk, a leading food and beverage company in Indonesia, as part of its strategy to enhance its global presence. The deal, which closed on Dec. 15, 2022, strengthens Hormel's partnership with Garudafood, known for its popular brands such as Garuda snacks and Gery biscuits. This investment aims to leverage Garudafood's local market expertise and Hormel's extensive history to accelerate growth in Indonesia and Southeast Asia, particularly in the snacking category.
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Hormel Foods reported a 4Q 2022 net sales of $3.3 billion, down 5%, with organic net sales up 2%. The company achieved a fiscal 2022 record net sales of $12.5 billion, a 9% increase, supported by strong demand in U.S. retail. Diluted earnings per share for the quarter remained at $0.51, while fiscal earnings per share rose 10% to $1.82. Despite challenges, the company plans for fiscal 2023 growth, projecting net sales between $12.6 and $12.9 billion.